According to a series of tweets by blockchain security company PeckShield, the exploiter's wallet was emptied of approximately $9.9 million worth of Venus BNB (vBNB) with a price of $9.4. In the second liquidation, approximately 5.6 million vBNB valued at $52.3 million were sold.

The loan position of BNB Chain Hacker has been liquidated.

During the 2022 BNB Chain breach, the hacker created two million BNB tokens and used 900,000 of them to borrow approximately $150 million worth of Tether (USDT) and USD Coin (USDC) against Venus. As the price of BNB continued to decline over the past few months, the loan's health rate deteriorated and concerns were expressed regarding the cascading effects of the BNB Chain upon liquidation.

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In November, BNB Chain and Venus enacted a proposal that authorized only the core team to liquidate the exploiter's position in order to contain the situation. In this regard, the duo whitelisted a wallet, granting it exclusive permission to carry out the liquidation in a way that would prevent a shortfall on Venus and provide additional support during the process.

In June, $30 million in USDT was deposited into the wallet in preparation for the liquidation, as BNB continued to plummet amid legal disputes between the U.S. Securities and Exchange Commission and crypto exchange Binance.

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As soon as BNB and other cryptocurrencies fell below $220, the hacker's collateral positions were liquidated and 900,000 BNB were transferred to Venus. At the time of writing, the assets were valued at approximately $196,2 million, with BNB trading at $218 per CoinMarketCap.

No Resulting Deficiency on Venus

After the breach last year, Venus and BNB Chain enacted a proposition to contain the mass liquidation. There were no Venus shortages or ripple effects on BNB or the broader market.

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"Following today's market movement, the BNB Bridge exploiter account was made healthy as promised by @BNBCHAIN using whitelisted liquidation without any resulting shortfall or further impact to $bnb," the Venus team said.